Masters of Marketing - Lifecycle Performance Pros

On your next mailing you change only one element like the headline,
offer, pricing, etc. and then you split your list in half. One
half gets letter#1 (your control) and the other half gets letter#2
(the test) then see which one does better.
And I guarantee you will see changes in results once you start
testing.
However, in order to accurately measure your test you’ve got to
follow secret#7...
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Secret #7:
Tracking
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John Wannamaker (and then later P.T. Barnum and William Wrigley),
said that 50% of their advertising was being wasted -- but they
didn’t know which 50%.
But now each letter campaign you send out gives you the ability to
precisely track what your return on investment is. This way you
know to the penny if your marketing is working or not. Unlike
many other forms of advertising you do to just get your "name out",
direct mail gives you an easy way to track your returns.
Subtracting your expenses (cost of postage, printing, and list
rental) from how much business your direct mail campaign brought
you gives you your profits.
You must keep track of each and every prospect calling from your
letter and responding to your specific offer (secret # 4).
That's why you’ll want to assign unique priority codes, extension
numbers or fake employee names for each promotion. Each letter you
send should have a unique code. Then you will be able to credit
that letter with the inquiry or sale. So you know what works and
what does not.
Many times I’ll use a priority code at the top of the letter. When
prospects call in your staff should be trained to ask for the
priority code. Or you can use extension numbers like this:
Call 301-555-1234 xF00. This way you know this code (the extension #)
stands for an offer you made F (February) 00 (2000).
Or if you do face-to-face business, an easy way is require people
to bring the letter with them/or present it to your staff in order
to get the special offer.
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